ALBANY, N.Y., Oct. 22, 2021 /PRNewswire/ --The growing popularity of mirror and anti-corrosive mirror coatings in end-use industries such as solar panels, automotive & transportation, construction industry, decorative applications, and others is expected to offer considerable growth opportunities during the forecast period of 2016-2025.
Mirror coatings have a plethora of benefits such as offering protection against scratching, abrasion, chemical corrosion, rusting, etc. These aspects are likely to assure promising growth for the mirror and anti-corrosive mirror coatings market during the forecast period. Rise in urbanization and emergence of smart cities are leading to an increase in the construction activities. These activities are offering robust growth prospects for the mirror and anti-corrosive mirror coatings market, as they are used extensively in architectural applications.
Transparency Market Research (TMR) has conducted an extensive research on various factors related to the growth of the mirror and anti-corrosive mirror coatings market. The global market for mirror and anti-corrosive mirror coatings market is expected to expand at a CAGR of 6.1% during the forecast period of 2016-2025. The mirror and anti-corrosive mirror coatings market is anticipated to reach the value of US$ 896.8 Mn by 2025.
The players in the mirror and anti-corrosive mirror coatings market are in the process of increasing their focus on green investments through government stimulus packages to meet the UN sustainable goals during the pandemic. The popularity of current telescopes is prognosticated to expand the growth trajectory of the mirror and anti-corrosive mirror coatings market to a great extent. Furthermore, corrosion-free mirrors are helping in increasing the reflectivity in numerous end-use cases. All these factors are expected to drive the mirror and anti-corrosive mirror coatings market.
Key Findings of Report
Growing Demand across Automotive Industry to Fuel Growth of Mirror and Anti-Corrosive Mirror Coatings Market
Barring the strict lockdown measures implemented by numerous countries due to the COVID-19 pandemic, the demand for automobiles is increasing consistently. These coatings are generally used in vehicles for protecting it from corrosion. Thus, these aspects offer immense growth for the mirror and anti-corrosive mirror coatings market.
Polyurethane Resins to Emerge as Significant to Mirror and Anti-Corrosive Mirror Coatings Market
The polyurethane resin type segment dominated the global market for mirror and anti-corrosive mirror coatings in 2020. The same trend is estimated to continue during this forecast period. These mirror coatings are tough, extremely durable, and easy to clean. Long-term protection can be attained through these types of mirror coatings. This factor attracts demand for these coatings from various applications such as concentrated solar panels, architectural, and decorative mirrors.
Regional Landscape of Mirror and Anti-corrosive Mirror Coatings Market
The Asia Pacific is expected to hold a large share of the mirror and anti-corrosive mirror coatings market during the forecast period. The mirror and anti-corrosive mirror coatings market in the Asia Pacific is expected to record a CAGR of 6.1% between 2016 and 2025. The expanding demand for mirror and anti-corrosive mirror coatings in the automotive and architectural applications across the region will serve as growth boosters.
Europe is also one of the leading regions for the mirror and anti-corrosive mirror coatings market. In Europe, Germany may emerge as the largest growth-generating country during the forecast period. The growing demand for decorative and architectural applications will assure promising growth.
Some of the key players in the mirror and anti-corrosive mirror coatings market are Tianjin Xin Lihua Color Materials Co., Ltd, Pilkington, Asahi India Glass Limited, Newport Thin Film Laboratory, Inc., Dynasil Corporation, and Tuffx Glass.
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